Broker Bulletin
Businessolver announcements, information & resources
March 2023
Think & Clink
Our March 9 Event is in the Books!
Thanks to all who joined us for our Think & Clink on March 9! If you couldn’t attend here’s a quick recap of what was discussed.
- Your clients’ members continue to struggle to understand their benefits (85% of MCRE respondents say they are confused about their benefits), but they do show a desire to engage with and maximize what’s available to them.
- Having a decision support tool is critical during a client’s member enrollment, and exposure both before and after are vital for increased employee engagement, understanding, and cost-effective utilization.
- Having an omnichannel benefits marketing approach is essential for clients to build and maintain awareness with their members.
- 97% of all employees prefer some form of email communication regarding their benefits.
- Utilizing data is necessary for your clients to determine what benefits are being overutilized, underutilized, and appropriately utilized.
Want to dive into all the stats discussed during the Think & Clink? Check out our new 2023 Benefits Insights Report.
Make sure to take our short survey
It will take less than 5 minutes and you will receive a $5 coffee gift card for participating!
Vision 2023 Registration is Live!
RSVP to join us Thursday and Friday, May 18-19
The theme for Vision 2023 is the Worthwhile Workplace! This two-day virtual event will feature experts and experiences designed to electrify your benefits strategy and empower teams on their journey towards transformative empathy. Explore how benefits strategy, engagement tactics, technology, and organizational culture all come together to create the employee experience. This year Vision will be even more of a party as Businessolver celebrates our 25th anniversary!
Want to play a bigger role in Vision? Contact us to discuss opportunities to be on a panel or speaking engagement.
Can HBLC Handle Our Tech with Heart?
Join Businessolver Wednesday through Friday, May 3-5
The Health & Benefits Leadership Conference (HBLC) is an unmatched opportunity to connect with HR and benefits leaders and gain expert insight on how to revitalize your benefits strategy. Get the party started by stopping by booth #201, and sign up for our welcome reception on opening night to continue the fun. Hear from Businessolver experts at our session on May 4, 3-3:45 p.m. on how to close the empathy gap and create a workplace full of engaged employees. Don’t forget to use our unique link when you register to save $100 on a Premium Pass.
MyChoice Accounts
All You Need to Know About Our Recent Updates
MyChoice Accounts, Businessolver's TPA for consumer-directed healthcare accounts, is continuing to find ways to maximize the "one-wallet" approach for benefits. Employers tell us over and over that they need a centralized hub to manage and promote benefits. To that end, we are continuing our improvements to the MyChoice Accounts user experience. In addition to the new member portal, we've rolled out with better claims tracking, submission, and visual account information, our MyChoice Mobile App is also getting an accounts facelift this month. Your clients’ employees will now be able to track claims with a color-indicated status on each claim, view their claim summary, and even edit claims within the mobile app. Did you know that Benefitsolver members who have MyChoice Accounts are 7x more likely to use the mobile app? That's more eyes on benefits and better engagement.
We’d love to show you the new portal and mobile features if you have clients looking for a streamlined experience and a centralized hub.
What’s New in Compliance?
Reminder: End of the National Emergency and Public Health Emergency on May 11
As a reminder, May 11, 2023, is still scheduled to be the official end of the National State of Emergency and the public health emergency that were initiated by the COVID-19 pandemic. There are several considerations that employers should be aware of relating to COBRA notifications and elections and run-out periods for FSAs and HRAs. Get the full picture in the Tech with Heart hub, by going to the On Demand library and checking out the Q1 Compliance Update and the End of the National Emergency compliance discussion. Businessolver will be making the needed adjustments to COBRA notifications and auto-terms and claims processing deadlines for MyChoice® Accounts. Bottom line: Nearly all COBRA notification, election, and payment rules and notional account claims submission rules will revert to the pre-pandemic standards 60 days after the period ends (July 11, 2023).
A Peek at Our Pinnacle Partners: Lincoln Financial Group
To enjoy income that lasts a lifetime
Lincoln Financial Group ensures your employees have streamlined access to important benefits to protect their financial futures while helping you manage costs. More than 17 million customers trust their retirement, insurance and wealth protection expertise to Lincoln Financial Group to provide advice and solutions that empower people to take charge of their financial lives with confidence and optimism.
Resources and Upcoming Events
Financial Literacy and Consumer Spending Accounts: A Not-So-Secret Strategy to Offsetting Healthcare Costs
Financial literacy and benefits literacy go hand-in-hand. With the majority of Americans (70%) living paycheck-to-paycheck, health savings accounts (HSAs), flexible spending accounts (FSAs), and health reimbursement arrangements (HRAs) are several ways employees can put financial success on autopilot.